Dhaka stocks witnessed sharp rise on Tuesday triggered by the credit facilities relaxed by the securities regulator.
The market cherished the news of the relaxing credit facilities and performed well after witnessing volatility over the last several sessions, dealers say.
The trade kicked off with a jump and the momentum kept going at close led by mainly financial stocks.
The benchmark DSEX index gained 115 points or 1.65 per cent to 7,056—its highest since October 31, 2021 when it was 7,000.
The Shariah-based index rose 19 points to 1,484 while the blue-chip comprising the DS30 index added 31 points or 1.19 per cent to 2,691.
On Monday, Bangladesh Securities and Exchange Commission (BSEC) allowed brokers to extend credit facilities to their clients based on PE ratio instead of providing margin loans based on the benchmark index. That means an investor will get 80 paisa against the investment of Tk 1 up to the level of the PE ratio. The new directive went into effect from Tuesday.
